A very positive news has emerged regarding the economy of the United Arab Emirates (UAE). Famous rating agency S&P Global has maintained UAE’s credit rating at ‘AA/A-1+’. The agency believes that despite global fluctuations and geopolitical changes, the UAE’s economic position remains very strong and its future is completely stable.
What is special in the S&P report?
The rating agency has stated in its report that UAE has sufficient money and resources. The agency has shared some important figures regarding the financial condition of UAE which are as follows:
The UAE’s total government assets are estimated to reach 184% of its GDP by 2026. The country has enough buffer to absorb any possible disruption in oil production or exports. Both the treasury and external economic conditions remain very strong.
What will be the impact on Indian expatriates and investors?
This news is a great relief for millions of Indians and other expatriates living in UAE. When a country’s credit rating gets an ‘AA’ rating, it means that the banking system and investment environment there is very safe. This maintains stability in the job market and guarantees long-term economic growth. For those who are thinking of running their business in UAE or investing there, this news will act as a great reassurance as it eliminates the possibility of any major economic crisis in the coming years.